1099-K form change $20,000 and question about reporting taxes with SmugMug

[ZachV]

I have a question that may be hard to answer. I sell photo prints on a platform called SmugMug. The company has set prices for all its print sizes through a third-party photo lab. I upload my photos, and then raise the price by 60%, and I collect that 60% plus the base price when each print sell. Example: Base cost for print $40, I increase the price to $64, I sell the print, the company charges the customer for shipping and ships the print through BayPhotos, the print lab, to the person, and I receive $24. After my sales reach $500, they send the money to my bank account. The main part where I am confused is that I only receive money from Smugmug for the amount I raise the base print price. I am not receiving money in my bank account for shipping or the base cost of the print. I am also printing or shipping it; that's the company's responsibility. So what amount will I report when I reach the schedule C area. Thank you

[MinhT1]

You are receiving only the commission portion for your sales. So on your Schedule C, you should only report as income the actual amount that you received in your bank account. Yo can still deduct your business expenses (if applicable).